New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-11-18
BIG SPLIT IN 4 NEWS AGENCY
o PARTNERS QUARRELLING IN PUBLIC.
EX-SENATOR HERMAN SELLS OUTPUT NOT TO
W. 7. SULLIVAN. BIS PARTNrE.

w. =. SULLIVAN. HIS PARlNFE
1t has been known Wall street for long time that
the partners IN Kicrnan's News Agency wcre not on
good terms TI,e remarks which havo been made by
ex-Stafc Senator Herman about william p. sullivan,
the other member the agency firm. have been
consistently fociole. Tho copart neship was formed
in November, 1os2, and was TO continue six years
II required only few months to prove that the as
ISOLATION was a mlstale ami in fact, both partners
havo been trying ever since to force dissolution
The liberal Offer, made by ex-senator Kernan in tho
first iwo or three years OF the coparf nerShip were
rejected by Mr. Sullivan. There Is reason to fear that
the roltIcal ambition OF Mr.. Herman may have en-
barfa,scd him financially and that lis partner has not
been sympathc c helpful to him IN his difficulties
Wall street was treated yesterday To public wash
ing OF dirty linen. Tho first publication was issued
lv Mr. Sullivan under tho name OF the news agency
firm in which Subscribers and the public were eau
toned against negotiating loans or commercial obi
cations Of any kind for John j. Herman a co. "
WAS stated In explanation: We are coiStfahcd 10
nn,ll,b li, notice because havo recently been in
formed that Mr.. Herman claims 10 have assigned his
interest in this business to ore p J. Gleason and
since tho making of the purpouod assignment has
attained financial accommodation from somc Of orr
subscriber, who were not aware Of tho facts
Tho reply was equally explicit. II wa stated that
the news agency would not be conducted under tho
present firm name longer than tho coparincINhlp
articles required. Mr.. Klcnan as serted that he had
NOT signed the firm name 10 chcch, or other form OF
indebtedness. alihOHeh by the terms OF the agree
mont hc was fully Authorized 10 do so. In winding
~, If was said: I'll" canton contained In MI Suli-
vans circular is uaiicou~ly intended In retaliation
for my assigning my interest In tho business to Mr.
Gleason. thc well known cX Mayor Of Long Island city,
which Interest Mr. sullivan hoped to secure to him elf
by purchasing judgment lately obtained against
me-
Tho daily market summary" issued by tho news
agency yesterday contained the first notice. bat dis
10 gardcd the reply. senator HERMAN protested
against this unfair treatment. but his partner refused
to Yield 10 his request to publish both notices II was
m easy matter. however. for him 10 capture the
cutiic .Sgc ~ market letters witch wcrc distributed
annr the rerly had been inclo-cd in them The
,, ,c embarrassment. whair'rr II may b., ha- moth
in, T., dn with ths firms affairs. II rlinoicd.
indeed that Mr. kicruau w0Hd start Immediately an
iulercnIcnt new. agency. but could not be l"arncd
fhnt tn. course lad been definitely decided uIou
,Ir sullivan asserted that the business had l'crn
harnucrod by Mr. kirrusn'> hnancicring and thai
he senior partner owed at least 100000 I" tie
foreign exchange houses in this city. Among tho
creditors thsf were named in The street 3i" Brown
I;roi hers 4 co nrrV'l Morgan 4 90 l. Won Holman
A 60. Eidd-r. Peabody n to: j. a w s"ltEuan ~
Co Iglakr Brother, 4 o.. aud John Patton d" Go. III"
amount al these claims could not 10 learned bat
thov arn reported range from Sl2oo To ahont
$1,000 Tho Indebtedness }, said 10 r>nlt from ihr
negotiation uf bills 81 exchange drawn 10y MI Herman
on "A friend In London.